August witnessed a worrying spike in crypto hacks, with losses exceeding $163 million – a 15% increase compared to July. This surge in attacks was attributed to sophisticated social engineering tactics and multi-chain exploits targeting exchanges, DeFi protocols, and individual investors. 80% of breaches exploited private key exposure and inadequate wallet security, highlighting the vulnerability of crypto assets. A high-profile case involved a Bitcoin holder losing $91 million due to a phishing scam, while Turkish exchange BtcTurk suffered another major breach costing them $48-$54 million. A deeper dive into August’s security incidents reveals a pattern of elaborate attacks, showcasing both the growing sophistication of cybercriminals and systemic vulnerabilities in the crypto ecosystem.